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Florida contract for deed laws?
In the state of Florida what if a contract to purchase a home was never recorded and the buyer defalts- 8 months of 1/2 payments and then moved from the home (out of state)and have not even attempted to contact the seller or pay anything. As the seller do I need to send them a notice of default/eviction. Does the buyer now have any rights to the home after 5 months of nonpayment.
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Welcome to our site, and I don't mean this really the way it sounds,
1. you or your attorney wrote the contract, so why don't you know what it says you have to do ? You are obligated to the contract, 2. why 8 months ago did you not declare them into default ? 3. what exactly does your contract say you have to do. Normally you will do one of the two things ? a. you give them notice of default ( in writing giving them a length of time to fix the problem) if they don't, the contract changes to a rental. Then you evict them as a renter. b. You have to give them notice of default and then you foreclose on the property as the lender ( or seller) But to be blunt, you should have known what to do and done it the day after they were in default. Most contact for deeds default, since the buyers are normally people who have bad credit and can not afford homes in other ways. The buyer has many rights if you never served them notice of the default ( assuming the contract gave them those rights) As for as recording, I would guess almost no one records the contract, that is merely for the buyers protection, so you can't get additional loans on the property. So it not being recorded makes no difference at this point. |
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When you sign a contract, the terms of the contract apply. Only if the contract remains mum on certain issues would local laws apply. And even then the terms of the contract may be implied over law.
A contract does not have to be recorded to be valid. As long as it was duly signed, it's valid. So, for us to help you need to tell us what the contract says. Generally, though, such contracts state that upon default the contract reverts to a rental lease and any monies paid are forfeit. However, this also means that, to reclaim the property, you need prove abandonment or file for eviction. Chuck asks a good question. Why did you allow the buyer to to be in arrears for 8 months? Why have you waited 5 months to pursue this? |
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